The thing is, should "contracts" with cartelists that are the beneficiaries of government favoritism count as contracts freely entered into? In my view, no. In fact, I would argue that even if there was no mortgage crisis, it would be a virtuous activity (true "privatization", actually) to engage in acts that might be fraud in the eyes of the state's law but not the libertarian non-aggression principle. If the political class wants to use the state to beat you down and subsist off of you parasitically, use your wits and guile to "rip the bastards off" and thereby get some of your own money back from those who have been its unearned recipients.